Azerbaijan invested $100 million in Turkey’s Petkim in 2011

The State Oil Company of the Azerbaijani Republic (SOCAR) invested
$100 million in the Petkim petrochemical complex (Turkey) in 2011,
head of SOCAR investment department Vagif Aliyev said, Trend reports.

Petkim plans to build a container terminal and a new power plant using
wind power.

SOCAR and Turcas Petrol/Injaz Projects have an alliance that won the
tender for sales of a 51% share of the Petkim petrochemical concern in
2008. The share was purchased for $2.04 billion. Turkey imports 70-75%
of its chemical products. Investments of SOCAR/Turcas/Injaz will allow
imports to drop to 30%.

Petkim Petrokimya Holding produces plastic packages, cloth, PVC,
detergents. It is the only manufacturer of the products in Turkey, one
quarter of which is exported.